The W-2 Form Filling Guide

The W-2 form is a tax form used to report an employee's annual wages and the amount of taxes withheld from their paycheck. Employers must send copies of the W-2 form to the employee and the Internal Revenue Service (IRS) by the end of January following the tax year.

To fill out a W-2 form, you will need the following information:

• Employee's full name and address
• Employee's Social Security number
• Employer's name, address, and Employer Identification Number (EIN)
• The employee's wages, tips, and other compensation for the year
• The amount of federal income tax withheld from the employee's paychecks
• The amount of Social Security and Medicare taxes withheld from the employee's paychecks
• The W-2 form is divided into several sections. Each section corresponds to a specific type of income or tax.

Form Boxes & Structure

• Box 1: Wages, tips, and other compensation. This includes the employee's gross pay for the year before any deductions or taxes are taken out.
• Box 2: Federal income tax withheld. The amount of federal income tax withheld from the employee's paychecks for the year.
• Box 3: Social Security wages. The employee's gross pay for the year, up to the maximum amount subject to the Social Security tax for that year.
• Box 4: Social Security tax withheld. The amount of Social Security tax withheld from the employee's paychecks for the year.
• Box 5: Medicare wages and tips. The employee's gross pay for the year, up to the maximum amount subject to the Medicare tax for that year.
• Box 6: Medicare tax withheld. The amount of Medicare tax withheld from the employee's paychecks for the year.

After you have filled in all the necessary information, you must ensure that the employee's copy of the W-2 form is sent to them by January 31st. The employer must also send a copy to the Social Security Administration and the IRS by the end of February. The employer could e-file or paper file the forms with the IRS.

It is important to note that if you are an employer, you must furnish copies of the W-2 form to your employees and file a W-3 form (Transmittal of Wage and Tax Statements) along with all the W-2 forms to the Social Security Administration.